After over two decades of ownership, Dan Snyder has agreed to sell the Washington Commanders to NBA legend Magic Johnson and others.
The ownership group, which primarily consists of Johnson, New Jersey Devils owner Josh Harris, and billionaire Mitchell Rales, is moving on to the review phase of their purchase. After Snyder agreed to sell the team for a whopping $6 billion, the league is actively reviewing the deal to ensure all parties are happy with the outcome.
Just last week, ESPN’s John Keim reported that Snyder had a “preliminary nonexclusive agreement” that had the potential to be bought out by another interested group. However, as of this week, it seems as though all parties are waiting for approval from the NFL. If the sale is approved for the asking price of $6 billion, it will be the largest franchise purchase in U.S. sports history.
Snyder initially bought the franchise in 1999 for $750 million, but it is unsurprising to see him selling when considering his last few years with the team. In 2020, various employees working for the Commanders came forward and alleged they were sexually harassed in the workplace. With a new group of owners, it could mark a serious turning point in Washington’s history.
If the deal goes through, Johnson will officially be the owner of at least three major sports franchises. He is a partial owner of the Los Angeles Lakers, WNBA’s Los Angeles Sparks, MLS’ Los Angeles FC, and countless chains and restaurants. But, he’s yet to obtain one of his goals…
Magic Johnson says he needs a Super Bowl ring
“I’ve gotten a [championship] ring in every sport, but I need a Super Bowl ring. And I would love to be the owner of the Commanders,” Johnson explained earlier this month. “To do not only great work on the field but the work we could do with the city.”
Continuing, the 63-year-old said the purchase is not only significant to him but to his entire family.
“I think that if they bless us … with the opportunity to be an owner, it would be an emotional day for me. My father just died, so it would be a great moment for the Johnson family — as well as Josh Harris, who is the lead partner in this,” he revealed. “To take that franchise and take it to another level, so I’m excited about it.”
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